1. Mix the condensed milk, evaporated milk, ½ cup of sugar, the vanilla and eggs2. In a saucepan dissolve ½ cup sugar in ¼ cup of water and heat carefully until it becomes syrupy and slightly tan3. Pour the caramel in a glass baking dish and pour the milk mixture on top4. Take a slightly larger glass dish and fill halfway with water. Place the dish with the milk mixture inside the larger dish and cover with foil.5. Cook in a 400 degree oven for 30-45 minutes or until custard is completely cooked6. Serve slightly chilled